Web Real-Time Communication (WebRTC) Market Research, Forecast by Devices (Mobile, Desktop, Tablet)

The report estimates that the global web real-time communication market was valued at $2.73 billion in 2019 and is expected to rise to $45.91 billion by 2027, with a CAGR of 41.7% between 2020 and 2027.

The expansion of the global web real-time communication market has been aided by the cost-effective advantages of WebRTC technology, the growing webification of real-time communications, and the increase in enterprise use of WebRTC. However, the absence of global standards and the rise in privacy and security concerns restrain market expansion. Contrarily, the fast acceptance of the BYOD trend, the expansion of WebRTC's IoT use cases, and the integration of AI with WebRTC will all provide industry participants lucrative future potential.

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Solution segment held largest share

By component, the solution segment dominated the global web real-time communication market in 2019, accounting for more than two-thirds of the market, owing to increased adoption among enterprises for applications such as video conferencing, staff meetings, BYOD applications and use of WebRTC as a substitute for VoIP or unified communication solutions. However, the service segment is expected to register the highest CAGR of 43.8% during the forecast period, due to the need of enterprises to find suitable WebRTC solutions and help integrate it with other enterprise applications.

Healthcare segment to portray highest CAGR through 2027

By industry vertical, the healthcare segment is anticipated to manifest the highest CAGR of 43.3% during the forecast period, due to increasing awareness about the benefits of telemedicine & remote patient monitoring. However, the IT & telecom segment held the largest share in 2019, contributing to more than one-fifth of the global web real-time communication market, owing to rise in demand for a secure, low cost communication medium and surge in strategic alliances, partnership programs, business re-modeling, and product launches in the IT & telecom industry.

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North America dominated the market

North America accounted for more than one-fourth of the worldwide web real-time communication market in 2019 and held the greatest regional share. The substantial ICT spending across multiple sectors and understanding of the benefits of real-time web communication are to blame for this. However, throughout the projection period, the market in Asia-Pacific is anticipated to experience the highest CAGR of 43.4%. This is because fast internet connectivity, particularly 4G connections, is simple to adopt, there is a sizable population base, enormous growth in smartphone penetration, increased competition among telecom service providers, and a surge in millennial social media usage.

Leading market players
• Avaya Inc.
• Dialogic Corporation
• Cisco Systems, Inc.
• Oracle Corporation
• Plantronics, Inc.
• Quobis
• Plivo
• Tokbox Inc. (Vonage)
• Ribbon Communications Operating Company, Inc.
• Twilio Inc.

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Key Findings of the Study -

• By component, the solution segment led the web real-time communication market size in terms of revenue in 2019.
• By WebRTC enabled devices, the mobiles segment accounted for the highest market share in 2019.
• By industry vertical, the healthcare segment is anticipated to exhibit highest growth during the forecast period.
• Region wise, North America accounted for the highest revenue in 2019; however, Asia-Pacific region is anticipated to exhibit highest growth during the web real-time communication market forecast period.

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